Today, the US tariff landscape remains tense, with the average applied tariff rate still hovering near historic highs. According to the latest data, the rate was estimated at 17.9 percent as of September, down from a peak of 27 percent earlier this year, but still the highest in over a century. Since April, a universal 10 percent tariff has applied to nearly all US imports, including goods from Taiwan. Additional country-specific reciprocal tariffs were implemented in August, further complicating trade relations.
Taiwan has felt the impact of these sweeping changes. In recent weeks, the Taiwanese dollar has swung sharply, falling past 31 per US dollar, its lowest level since May, before rallying over 2 percent following a joint statement from Taiwan’s central bank and the US Treasury. The statement affirmed both sides would refrain from currency manipulation and only intervene to manage volatility. The central bank clarified that the US did not request currency appreciation, and the move is unrelated to ongoing tariff negotiations.
Talks between Taiwan and the US are nearing conclusion, with local officials confirming that both sides have agreed to reduce the previously announced 20 percent reciprocal tariff. This comes amid broader efforts by the Trump administration to negotiate tailored trade deals with multiple countries. On November 13, President Trump signed an executive order modifying the scope of reciprocal tariffs, removing them from certain qualifying agricultural products, including some foods not grown in the US. The changes took effect this week, offering some relief to exporters.
Meanwhile, the US announced its first military sale to Taiwan, a move welcomed by the Presidential Office in Taipei. The sale signals continued support amid rising regional tensions, especially as China continues to apply pressure on Taiwan’s energy lifelines. Reports indicate Beijing is using regulatory and economic levers to restrict Taiwan’s liquid natural gas supply, aiming to undermine its resilience and political will.
Despite these challenges, the US has signaled a willingness to backfill Taiwan’s LNG needs with American shipments, in exchange for long-term investments in US strategic sectors. Washington is also exploring ways to increase Taiwan’s energy storage and production, including the potential use of small modular reactors.
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